#1 Business email

1. Stock market

 

Dear Joon,

Please see below for a brief update regarding our client, Project Pluto.

The client has expressed concerns about the timing of the IPO, given the recent volatility across the equity markets. As previously discussed, sentiment continues to be weighed down by policy uncertainty and recessionary risk.

That said, we believe it remains advisable to proceed with the IPO within the next two months. The TMT sector, including Pluto, has shown resilient post-IPO performance over the last quarter, with continued strength expected. Our senior analyst, Mr. Rubio, also noted that current TMT dynamics resemble the favorable window we saw in 2020.

We’d welcome your thoughts on this and are happy to prepare a short market brief for the client if helpful.

Warm regards,  
Jess

 

2. Comps

 

Hi Jae,

As of May 7, 2025, here are the top 3 comps:

1) Company A – 10.0x EV/EBITDA | 12.4x P/E (NTM)  
2) Company B – 12.0x | 14.4x  
3) Company C – 15.0x | 15.4x  

All trading above the sector avg. of ~9.0x / 10.0x.

Best,  
Jess